HSBC Bounce back loan

fullyrevised

MariaFrances4 said:

fullyrevised said:

I applied for my BBL on 5th June. Unfortunately, I made a typo on my email address. Went through the usual calling up, and them emailing some mystical "team", to no avail. Last week I reached out to my MP, he was fantastic. I can't be sure that it was his correspondence with HSBC that fixed it for me, but this morning I've had a call from HSBC getting things moving. Finally got my "echosign" email through so just waiting for the last checks and money to arrive. So I'm not there yet, but I feel a lot closer now.

Probably worth noting that my MP forwarded my concerns to the "Head of Political Engagement, Europe, HSBC". Like I say, not sure that this was what got things moving, but I thought I would add to this thread just in case it helps someone else.

This is very similar to myself. One letter in my bank name was typed incorrectly by mistake so I’ve now been waiting since the beginning of May to get it sorted. Ringing every other day, making an official complaint, writing emails, still not sorted. 

Do you have advice on what I can do next? 

Cheers

Write to your MP.

Jeremy535897

bazzyb said:

debthelp1 said:

Jeremy535897 said:

bazzyb said:

debthelp1 said:

Accountant informs me that as I wasn’t trading in 2018/19 I won’t be eligible for the bounce back loan, is this correct as the info on here doesn’t seem to suggest that 

https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-schemes/bounce-back-loans/faqs-for-small-businesses/#f2

You need to have been trading on or before 1st March 2020 to be eligible. 

It depends. If you are a sole trader and you don't have a business bank account, they need to check that you have a business to ensure you are eligible. The way most banks do this is to ask for your 2018/19 tax return. Some banks specifically say they won't advance BBLs to people without a business bank account who were not trading before 6 April 2019.

I’m a Ltd company with a newly opened HSBC bank account who has only been trading since May 2019 but yet to file a return for 19/20. Should be done this week but I applied for the loan two weeks ago today 

I believe (but stand to be corrected) that HSBC only ask for tax returns for sole traders. That’s what it suggests on their website at least anyway. 

I had assumed he was a sole trader as otherwise the reference to tax years made no sense. That's why I said "if you are a sole trader". On a thread with 56 pages I confess I did not try to find the original! That's the problem with these sort of threads.

reach2help

Existing HSBC business banking customer
8th July 2020 applied for BBL
11th July 2020 received email from echo sign
12th July 2020 signed the agreement and DD mandate
From then no updates and funds did not reach my account. 
22nd July 2020 sent a email to HSBC CEO and copied complaints team
23rd July 2020 got a email from complaints team saying they are currently investigation my application and should hear from them in 5 working days
23rd July 2020  @ 13:45 got one more email from echo sign and found some minor changes done to the agreement with my company details instead of my name which was incorrect in my previous agreement received on 11th July 2020
23rd July 2020  @ 14:45 signed the agreement and DD mandate form
23rd July 2020  @ 15: 40 funds was in my account.
Do not loose hope...........

andre87

reach2help said:

Existing HSBC business banking customer
8th July 2020 applied for BBL
11th July 2020 received email from echo sign
12th July 2020 signed the agreement and DD mandate
From then no updates and funds did not reach my account. 
22nd July 2020 sent a email to HSBC CEO and copied complaints team
23rd July 2020 got a email from complaints team saying they are currently investigation my application and should hear from them in 5 working days
23rd July 2020  @ 13:45 got one more email from echo sign and found some minor changes done to the agreement with my company details instead of my name which was incorrect in my previous agreement received on 11th July 2020
23rd July 2020  @ 14:45 signed the agreement and DD mandate form
23rd July 2020  @ 15: 40 funds was in my account.
Do not loose hope...........

Who did you emailed and what did you told them? I signed echo docs on 16 june and im waiting the funds since then! Ringed them at least 10 times since them, they keep telling me to wait and check the account for the money because they will arrive soon lol

reach2help

Below are the email ids to whom I have sent email. All I told them is the history of my application and requested them to help me to get an update on when the funds will arrive my account as it will help my situation to get better.

ian.stuart@hsbc.com

commercial.executive.complaints@hsbc.co.uk

shakey2309

I have been waiting nearly 11 weeks for hsbc to open my feeder account.  I tried not to bother them but called a couple of weeks ago after being on hold a long time they said they would try get it pushed along and then hung up . Today I phoned again 1 hour on hold then got through to a lady after giving my details she said she would look at my application and put me on hold then after another 10 mins she hung up again . What am supposed to do 

Lee1901

shakey2309 said:

I have been waiting nearly 11 weeks for hsbc to open my feeder account.  I tried not to bother them but called a couple of weeks ago after being on hold a long time they said they would try get it pushed along and then hung up . Today I phoned again 1 hour on hold then got through to a lady after giving my details she said she would look at my application and put me on hold then after another 10 mins she hung up again . What am supposed to do 

Keep on ringing them. At one point when I was following up mine I was told that the application had lapsed as it had been lying idle for more that a month waiting to be processed. They had to reactivate it. Since then I started ringing them every 2 days and they eventually opened one for me. Last week Friday they gave me the acc details for the feeder ACC. Today they did send me the DD instruction and echo sig. keeping my fingers crossed. Not sure how long it will take before the money gets in. 

mrb1968

I've been an HSBC business account holder for 8 years. I applied for a bounce back loan on 19th June and received an instant acknowledgement and application reference. I've heard nothing since. Spoke to them on 20th July and they said the Echosign agreement should have been sent in late June but hadn't been. Was told it would be expedited. Still haven't heard anything. Called this morning and was shunted to another department. Left on hold for exactly 2.5 hours before the line cut out. Called back and got through after 45 minutes! Was told they can't give me an update of the status of the application nor confirm if it had been accepted. There will be 'a manual IT check' done after 28th July but they couldn't tell me what this means or what they need to check. Total time spent on this today, 3 hours 30 minutes getting nowhere. 
This organisation isn't fit to operate as a bank. I wouldn't want to buy a pair of socks off them. I've sent in my complaint. I'm getting the FOS form completed now because I cannot see them responding to my complaint within 8 weeks.

dafcjim

Hi.  I applied for a feeder bbl through hsbc but not heard anything.  How long is the process?.  I have application reference and provided phone and post verification.  Thanks

RoxanaFilip

Hello! I've signed the documents on 22th. No funds yet. What you advise? To wait or to start giving some calls (on Monday)? If the aplication was succesful and the documents signed,they could still decline my loan?